Question

The total amount of money paid in two years to clear the debt.

• A. Rs. 6,210
• B. Rs. 6,990
• C. Rs. 8,910
• D. Rs. 10,250

Answer 1

Answer: (C)

Rs. 8,910

Sum=Rs.8000

Rate=7%

C.I for 1 year =S.I for 1 year=$\frac{8000\times 7\times 1}{100}=Rs.560$

$\therefore$Amount after 1 year$=8000+560=Rs.8560$

At the end of first year he return=Rs.3560

Remaining Amount$=8560-3560=Rs.5000$

Then interest for second year$=\frac{5000\times 7\times 1}{100}=Rs.350$

Hence the total amount paid in two year$=8000+350+560=Rs.8910$